Samsung announced that it has developed a payment card with a fingerprint scanner with Mastercard. The technology of the card in question seems to be similar to the technology of the biometric payment card that Mastercard announced in 2017. The card in question makes it possible to pay without touching the POS terminal.
However, in the statement, it was stated that the new cards will include the new security chip set produced by Samsung System LSI Business. It was stated that this technology combines more than one discrete chip.
With this new technology, it is aimed to increase security and reduce physical contact. Since the fingerprint will be verified directly on the card, it is possible to say that an extra security dimension will be added to the contactless payment. The card, which will be compatible with Mastercard’s verification technology, can be used in all Mastercard terminals.
Apple Card, Apple’s payment card, one of Samsung’s biggest competitors, was largely designed for use in smartphones. However, Apple also sends customers a titanium physical card with their names engraved on it. When using a physical Apple Card, it is necessary to enter a PIN code via the POS terminal for verification.
The payment card prepared by Samsung and Mastercard will benefit from Mastercard’s terminals and Samsung Card’s financial infrastructure. Behind Samsung Card is Samsung Life and Insurance, one of the most important credit card companies in South Korea. It is unknown whether the card, which will be available in South Korea this year, will be released in other countries.